It was about a month ago that the wealthiest man on the planet by most estimates (Elon Musk), backed out of a deal to buy Twitter. Now, the 105th richest man by most estimates (David Tepper), is folding up efforts to construct a new practice stadium for the NFL Carolina Panthers in Rock Hill, South Carolina. The current owner of the Panthers also owns GT Real Estate according to sources and the latter is seeking bankruptcy protection despite verbal overatures to satisfy creditors. The point is that many factors come into consideration when considering a business or real estate opportunity. In our experience, it has always been a policy to look at the deal, the debt structure, and market support…not just the person or money behind it.
We are not disparaging either of the above individuals, but we are saying that deals can be good, not just because someone with money is on board. If it were us, we would consider the entirety of the opportunity. We are not offering accounting, legal, investment, nor financial advice, just information.